Editorial: California should stop investing its retirement funds in fossil fuels. They’re risky and immoral

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Legislation to force California’s large and public employee pension funds to divest from the top oil and gas companies is a financially prudent move in a world where the impacts of climate change are intensifying.

California has some of the nation’s leading climate policies, with hard deadlines to slash greenhouse gas emissions, switch to zero-emission cars and trucks and get 100% of its electricity from carbon-free sources. But so far, its leaders have lagged behind other states, like Maine and New York, in using another important tool — the financial power of its massive public pension funds — to hasten the nation’s independence from fossil fuels.

Helping to fund the destruction of our environment is insanity; profiting from it makes us complicit. We urge California lawmakers to pass Editorial: Climate change is making California more expensive. Home insurance is the latest bellwether

 

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